Abstract
Purpose: The purpose of this Delphi study was to investigate what a panel of experts perceived to be the most essential practices, behaviors, and strategies for retail store managers to successfully reduce retail shrink. Methodology: This study utilized a Delphi technique to reach consensus among a group of 20 expert participants using 3 online surveys. The surveys required the participants to develop, rate, and rank the most essential practices, behaviors, and strategies retail store managers used to improve shrink. Two existing theories were introduced in the second round of data collection known as a hierarchical taxonomy of leadership behavior and the routine activity theory. Findings: Participants developed a priority ranking of 62 practices, behaviors, and strategies that store managers used to improve shrink. The highest ranked practices and behaviors centered on operational processes and modeling and communicating shrink behaviors. Higher importance was given to the hierarchical taxonomy of leadership behaviors versus the routine activity theory. An analysis of statistical differences determined specialty participants rated all 62 tactics as more important than big-box participants did. The store manager participants rated all 62 shrink-reducing statements as more important than regional manager and loss prevention participants did. Conclusions: The findings from this study provided a model that contains 9 overarching categories for store managers to use to improve retail shrink. This study also concluded that store managers would benefit more from training on task- and relationship-oriented leadership behaviors than preventing crime opportunities based upon the 2 theories introduced. Finally, it was concluded that specialty store managers benefited more from this shrink-reducing model than big-box managers due to lower available resources and a higher self-reliance, along with store managers in general, needing more focus on operational compliance. Recommendations: Store managers can improve retail shrink by implementing the shrink-reducing practices and strategies proposed in this study. Further research is needed to determine the effectiveness of this model using a quantitative methodology. Future research could also occur using different position types along with larger sample sizes to discover additional shrink-reducing tactics.